Financial inspiration thoughts

The Great 'I Gekko' Blogs

2007-02-21T15:05:00.000-08:00

Hi all

Read the ranting and ravings of Gekko at the new blog he started: Gekko Speaks

That is, if anybody reads MY rantings that is :p

Maybe he can give some comments on my blog and website!?

Leon

Another change in lifestyle: Gym

2006-10-25T13:32:00.000-07:00

One thing I forgot to mention in my list of changes that I've made since the beginning of the year, is that I've started going to the gym. This is only a recent change (since 1 September) that I implemented since becoming more settled here in London.

I've been meaning to start going to the gym for a long while now - actually since I went to university. The story I've been telling myself is: 'I should really be going to the gym.' And on occasion I'll tell other people that I intend to start gymming when I go to varsity/back to varsity/work/back to work/etc. And I actually never did it for long - if I did at all.

Then, as I was staying at my parents place just before I came over to London, I was telling my dad that I should really start to gym when I'm in London. And in a laughing/kind parental manner told me: 'Well, you've been saying that since you started varsity.'

What was I to do? That was (indirectly) questioning my integrity (not doing what I say I'll do). So this time round its different.

I've started in September. Signed up for 12 months. And have been going every weekday morning (before work), except for the last week when I was ill with the flu.

And I will continue doing it. Because I said I will. (And I am a person of integrity)

If you are a woman on the path to financial freedom

2006-10-22T13:16:00.000-07:00

For all my female readers, I met some very interesting women at the Rich Dad Forums Get Together back in March and they have a amazing piece of blogging going on at:

Really No Limits Ladies

It is definitely worth a piece of your time :)

Almost 1 year later

2006-10-22T12:49:00.000-07:00

Yip, I post again.

Why haven't I posted for 10 months? I got distracted. World of Warcraft. Do I need to say more?

Why post now? Cause I can.

A bit about these past ten months (besides the humongous amount of time spent in World of Warcraft):

- I went to the Rich Dad Forums Get Together in March 2006.
- My house was broken into when I came back from that.
- Insurance doesn't want to pay out because I tried to get too much money from them (it was in good conscience from my side, but they didn't see that:( )
- I emigrated to the United Kingdom (August 2006). I'm currently in London on a HSMP (Highly Skilled) visa.
- Am in the process of selling my two South African properties, but it is difficult from a distance.
- My website is still up and earning some money in the background.

Yip, in a nutshell, that is what happened. So what is happening in the future? Who knows, but I think I should try to scale down on World of Warcraft and get my focus on making some money back.

What do you think?

I will act now - The Scroll Marked IX

2005-12-12T23:51:00.000-08:00

Long before I actually started reading 'The Greatest Secret in the World', I had found a quote by Og Mandino that I thought would be a got motto to live by: "I will act now. I will act now. I will act now."

A while back a wrote an article "Work is the key" (do a search on Google). After some more thought (and reading this book), I would like to change it to: Action is the key. Work has that negative connotation, while action sounds somewhat better. I will act now! How much power those four words contain! Will you act now, or will you postpone just a little bit longer?

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On a somewhat different note: I just launched my second SBI site: Toastmasters Public Speaking - Public speaking skills as taught by Toastmasters.

The Greatest Secret in the World

2005-11-15T23:20:00.000-08:00

Well, I've finally read far enough into the book, The Greatest Secret in the World, for the author to share what he believes it is. The greatest secret in the world (paraphrasing) is:

"You only have to bit a small, measurable amount better than mediocrity and you've got it made."

Can you believe it? Just ask a few of your more succesful friends and ask them if they believe this is true. Isn't that what employers want from their employees? Just be a bit better than mediocre and we'll pay you real well?

I believe it is so, but to defend my view point, let me tell you what I define as mediocrity: "not doing something because you don't HAVE to". So, if you are slightly better that mdeiocre, you'll do more than you have to and become more than you were (and get paid more).

What do you think?

To quit or not to quit?

2005-10-31T13:09:00.000-08:00

This weekend I did some serious thinking and soul searching. Should I quit my job or shouldn't I? If you've been following my blog, you'll know that I've set a goal at the beginning of the year to quit my job around this time (actually today) with R20,000 'non-employment' income per month. The date has come but not the income. So what am I to do? Was the quitting conditional on the income? Or was the income conditional on quitting? Or was quitting independent of income?

Well, after much soul searching (and discussion with risk averse parents - who have happened to be surity on some outstanding student loan debt) I've decided to stay on for a while at my current place of employment.

One of the weaknesses of my plan I've identified, is the issue of accountability. So far, I haven't been accountable to anyone. I'm a free man after all (see my list of life values in previous post)! But not having to answer to anyone (even self-inflicted) is detrimental to achieving my goals, so I'm hooking up with (at least) one like-minded individual, with the aim of hatching an accountability project.

Is accountability the answer? It might or might not be, but in the end, its also just a frame of mind. So once again I'm faced with a choice: do I want to be accountable, or don't I?

Choices...choices...(the fabric of freedom...and responsibility)

My top 10 life values

2005-09-14T06:04:00.000-07:00

I'm in the process of reading Anthony Robbins' book 'Awaken the Giant Within' and I'm at the stage where I define what my current life values are. Below I've set out what they are. Please note, as in the book, that these might/will probably change and is only what they were at the time that I did the exercise. After changing what I value (and the beliefs associated to it) I will also post an 'after' picture (compared to this 'before' picture').

My top 10 'towards' values:

Freedom.
Growth.
Friendship.
Success.
Intelligence.
Love.
Intimacy.
Naughtiness.
Integrity.
Happiness.

My top 10 'away-from' values:

Loneliness.
Humiliation.
Incompetency.
Guilt.
Disappointment.
Depression.
Insecurity.
Rejection.
Worry.
Confrontation.

There you now have the 'before' picture. Once I've done the rest of the exercise I will also post the 'after' picture to give an idea of who I want to become.

Regards
Leon

Scroll VI: Today I will be master of my emotions

2005-09-14T05:49:00.000-07:00

Yip, I'm still reading the book of Og Mandino 'The Greatest Secret in the World' and I'm on scroll VI: Today I will be master of my emotions.

The thing that helps to keep me motivated is the score sheet of everyday (and week). I don't score perfect scores by any means, but the fact of keeping score makes me feel that there is still value in reading the book.

But let's get back to the topic - Being master of my emotions. It is not at all easy to do, but the one thing that is stuck in my mind from this day is 'Weak is he whose thoughts control his actions. Strong is he whose actions control his thoughts'. Let me mention one example: smiling. Action. If I smile, I immediately feel better. If I try to do it the other way around - thinking I should be feeling happy so I could smile - it often doesn't work. Though, getting out of bed before thinking that I could lie in is a whole different ballgame ;)

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Know who Donald Gordon is? Heard of Liberty Life International or Liberty Life Insurance? He's the man who founded these 2 billion-dollar companies in two different countries. You can read his biography here.

Some financial changes

2005-09-04T01:48:00.000-07:00

The month of August is the month where we get our raises from my current employer. It is also the time for bonuses to be paid out. So the month of August was a month of abundance ito money.

At the beginning of August I had also moved house into one of the properties that I bought earlier. It's a 4Br/1.5Ba house in an older suburb of town. Though I moved in on the first, the property was only transferred to my name on the 18th, meaning that my first bond payment will only go off on the first of October.

The other property I bought (a 2Br/1Ba for rental purposes) is now also on my name (actually transferred on the 3rd of August) and the first mortgage payment went of on the 1st of September. I thought I would collect the rent myself, but I actually never got around to paying some attention to that house (being in my own new house at the same time), so I contracted the management of the house out to an agent at 8% commission and I sleep better now.

I will post my financial situation again once I see what all the deductions (houses) and income (rentals and pay increase) is at the start of the new month.

Regards
Leon van der Walt
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The Scroll Marked V

2005-07-27T01:12:00.000-07:00

I will live this day as if it is my last.

What would you do on the last day of your life? What would you do if you knew for a fact that you will not wake up tomorrow?

This is a difficult step for me. As much as I'd like to say I will treat this day as my last day on earth, and for all the good it will do, I'm struggling. I'm struggling because mostly I do not believe it. After all, I'm only 25 years old, and for as long as I can remember, I remember waking up again on the following day :) I can't for the life of me remember a day that was my last day :?

Like the scroll before (Scroll IV: I am nature's greatest miracle), it does not seem to be the case in the present moment and I have difficulty making myself believe that it is so. But that is why I'm continuing to read the book.

Regards
Leon

Fasting makes you appreciate food

2005-07-21T00:28:00.000-07:00

I did fast this weekend as I mentioned in my previous post. One of the things I learned is that when you're hungry all food seems delicious, but come Monday morning when I could eat again, I only needed to eat a modest meal (delicious of course ;) ).

Except for this fast, I tried to fast once before, but quit after only 36 hours. Now I know it can be done (Thursday 6pm to Monday 6am) and that one should persevere. To me it was mostly a battle of the mind. Yes, my stomach was grumbling, but could my mind, my will, dominate temporary inconveniences?

I am a gemini so I had both the good voices (persevere) and bad voices (eat, don't deny yourself) in my head. And to triumph and say: it is something that I must and will do. So I persevered and did.

When the student is ready, the teacher will appear!

2005-07-11T23:38:00.000-07:00

Yesterday I had lunch with my new mentor and it was quite interesting (besides for the fact that I've got some existential sh@t on my plate :) ). At one stage I asked him whether change comes from inside yourself or from the external world. "Why does there need to exist a dichotomy? Isn't the outside world, as you perceive it, just a reflection of who you are on the inside?" So if you are confused inside, you will be see the world as a confusing place.

It was in this vein that he said that he is sitting right there across from me, because of something inside of me (ala figment of my imagination ;)) that was looking for him. Didn't I say I was looking for a mentor? Kind of like the saying, 'When the student is ready, the teacher will appear.' Or a variation of this, 'When you know what you want to know, you'll know who to ask.'

Another thing he said, was that there are two types of people in the world: bosses and employees. There is nothing with wanting to be either of the two, but you can't be both. Do I really want to be the boss? Responsible for putting food on the table of my employees? Or firing employees when I know they need to put food on the table for their hungry children? Sleepless nights? Are you sure?

At the end of our lunch, he suggested that I fast. Yes, just water for three days. Its amazing how the body starts to panic when it's denied food. So I've put it on my calendar for this weekend. I'll let you know how it went.

Regards
Leon van der Walt
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108% bond and 105% bond approved

2005-07-05T00:24:00.000-07:00

The other day I went and looked at some properties. I wanted to get into the property game and I've been looking for a long time. And as it happens, I sort of grew tired of looking. So on this one day, I saw two nice properties and decided I'd make offers on both of them.

Oops.

Since I'd only qualify, according to my calculations, for around R350k in bonds, I'd thought (wanting at to get at least one offer accepted) I'd make offers on both. Well, it turns out both offers got accepted (at least the offers had a clause 'subject to finding finance'). So, out I went to see if I can find finance. Low and behold, I did. For both properties.

So now I've got my foot in the door (or was that my foot in my mouth?) in the property game. Now I've just got to work it and make it a profitable venture. I'll post some figures once I'm closer to having the properties in my name (yes, they're not in seperate legal structures as I'm trying to get at least some equity/net worth on my name).

Regards
Leon
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Apprentice SA Episode 2: The end of the road for me

2005-06-23T22:13:00.000-07:00

Last night's episode of the Apprentice SA was again somewhat disappointing, though I liked the fact that the men won this task (and I may be biased regarding that :) )

Before you read further, you might want to open an unbiased (or less biased) review at the following link (open it in a seperate window):
Tashitagg Review of Episode 2

The task was to set up a tour through Soweto and to end it at the Hector Pietersen museum with the aims of sustainability and profitability. The men had a brilliant insight (Richard actually) late in the first day, which had them sell tickets to a restaurateur (African) who gave it away to his clientele as a promotion. The women on the other hand tried to get corporate sponsorship for their tour, but if they knew anything about corporates, they should have known they would never get money in a day.

But my gripe is about what happened in the boardroom (or what we as viewers saw of the boardroom). I was looking forward to some cat fights as it was the first time the all women team would be in there and the fact that the only male in the room would be Tokyo Sexwale. I was not disappointed in the cat fight arena as there was enough bitching to go around for everyone. I was (once again) disappointed in the decision Tokyo made: He fired the female team leader, Iris. For my opinion on firing leaders, read my previous post. This time round, I feel that Iris did indeed take the two weakest members (of the female team) into the boardroom and then Tokyo just goes and fires her.

Well, I disagree with him, and maybe I'm just not cut out as a spectator or maybe I'm just seeing the contentious bits the directors want us to see, but I respectfully won't make an appointment to watch The Apprentice SA again.

Regards
Leon van der Walt
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Apprentice SA First Episode: Exhilirating and disappointing

2005-06-17T01:39:00.000-07:00

Last night the first episode of the South African Apprentice was aired on SABC3. After much anticipation and building to the climax at 20:30 (had to sit through Top Billing who mercifully had a snippet on The Apprentice SA), the time finally arrived for the first episode of our Apprentice.

A big part of this episode was to simply introduce the contestants which was necessary, but took a some of the potential shine from the task: To find a street vendor, help him/her improve his business in an ethical and sustainable way with the final measure being the percentage improvement in profit the different teams make in the vendor's business over one day.

The teams were, as in the US version, the men versus the women. The women's team name were(are) something that means 'You touch a woman you touch a rock.' (couldn't they find something that said the same thing in less words? - just a man wondering) versus the men who were 'Pride of Lions'.

It was exciting to see how the two teams go about their tasks: the women spending a lot of time negotiating for good prices at the market (lesson: you make your money when you buy), while the men actually arrived on time but going with the flow (each team had already had one day of planning, and this was the day of execution).

In the end, the women triumphed as they secured almost double the profit the men had (without seeing the actual figures I'd attribute it to: men paying two times more for initial stock than the women and women selling produce to restaurants - smart move, I must add). Where I feel they could have done something more, is to sell advertising space on the vendors' carts, but that may be left for another day.

The disappointing part came when the losing team leader, Tristan Davies (of the men), had to pick two people to move in front of the firing squad. He chose two very strong candidates (Richard and Nthato) and they vociferously defended their positions. Why did he choose those two? His stated reasons were 'sleeping on the job' (Richard) and 'insubordination' (Nthato). 'Sleeping on the job' I can understand, but 'insubordination' - come on, can't someone disagree with you as a leader. A very weak excuse and he could have chosen someone for more valid reasons. Anyways, Mr Tokyo Sexwale goes on and says "You're Dismissed" to Tristan Davies.

To Tristan Davies, the team leader. What? Come again? How can you fire a leader? He (Tokyo) says because Tristan did not speak up when first asked. How about loyalty Mr Sexwale (to superiors and subordinates)? How about making decisions in tough times? How about the guts to volunteer to be the leader on the first task? And while I'm ranting, why did you have to divide the group into men and women? Do you want to stir up gender conflict? Why not simply divide them up by race while you're at it?

But lets summarize (my views) on the first episode of The South African Apprentice: Very entertaining task and how they go about it, but when the push comes to shove (dismissals), I wouldn't wan't to work for someone who fires his leaders by the narrowist of margins (narrow margin = if the three contestants sitting before him, I'd consider the leader to be the last one for dismissal).

If you don't like my commentary, read a more balanced view from the official reviewer of The Apprentice SA.

37,000 US$ millionaires in South Africa

2005-06-12T21:52:00.000-07:00

According to the 2005 Merrill Lynch Cap Gemini World Wealth Report the number of High Net Worth Individuals (HNWI) in South Africa rose 21.6% to 37,000. This is the second highest country growth rate in HNWI in the world, with only Singapore growing faster at 22.4%.

Globally, there are 8.3 million individuals that hold the status of HNWI - $1 million in financial assets with a combined wealth of US$30.8 trillion. Ultra High Net Worth Individuals (Ultra HNWI), with wealth of more than US$30 million, increased with 8.9% to 77,500 individuals world wide.

Of the different continents, Africa had the highest change in HNWI population with 13.7%, ahead of North America with 9.7%. Not surprising when you consider that most of Africa's HNWI hails from South Africa. If you, however, consider Africa's HNWI combined wealth and compare it to that of the others, we only have 2.27% of the world's HNWI wealth. North America has 30.2% of the world's HNWI wealth.

The main economic driver of the change in South Africa's number of HNWI were the phenomonal growth of equities: the Johannesburg Stock Exchange gained 163% (in dollar terms) in value.

The BRIC developing countries (Brazil, Russia, India and China) are becoming an ecomic force to reckon with. With 41% of the world's population and 8% of world GDP, they are predicted to overtake the G7 ecomic output by 2040. Their number of HNWI are 98,000 (Brazil), 88,000 (Russia), 70,000 (India) and 300,000 (China) respectively.

In growth terms we haven't fared to badly. When you look at the absolute numbers, however, we are still lagging behind, even just compared to other developing countries. Also, most of Africa's economic wealth seems to be concentrated in South Africa, where then are the rest of Africa? Yes, we are doing OK, but we can still do better.

Regards
Leon van der Walt
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I have found a mentor

2005-06-08T03:45:00.000-07:00

I have mention before that I'm on the lookout for a mentor. Well, I've sort of found one. Why do I say sort of? He has actually not 'arrived' yet, but is somewhat down the path of where I want to go.

I met him through Toastmasters and only recently became aware of what his interests are outside of Toastmasters. He's had several business before and also has been bankrupt before. He is now an entrepreneur and enjoys working himself to death. Sort of.

Anyways, I got a lot of respect for his views and it carries a lot more weight than from someone who hasn't and aren't walking the path. He walks the talk and that is what I was looking for in a mentor.

Regards
Leon van der Walt
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The Scroll Marked III

2005-06-01T04:56:00.000-07:00

After almost two months I'm still (repetitively) reading the book: The Greatest Secret in the World. Ironically then, that Scroll III states 'I will persist until I succeed.' Well, truth to tell, I'm amazed that I've come this far - previously I was not a man that could persist with something so dull and repetitive. Maybe that is what this book is trying to achieve - for you to realize the power of your habits (that or the power of the subconscious mind).

Well, it should start panning out now, since the people at work are starting to ask me what the greatest secret in the world is every time they see me reading the book (second time of the day just after partaking in the midday meal).

Regards
Leon van der Walt
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Personal finance situation: 31 May 2005

2005-05-31T05:32:00.000-07:00

For an update on my personal situation, these are my personal financial statements as on 31 May 2005:

Income:
Salary:	12900
Real estate:	0
Business income:	0
Expenses:
Taxes:	2700
Mortgage/Rent:	1400
Car loan payment:	0
School loan payment:	1730
Credit card payment:	0
Child expenses:	0
Other expenses:	2220

Surplus cash flow: 4850

Balance sheet:

Assets:		Liabilities:
Savings/Cash:	1000	Mortgage:	0
Stocks/shares:	0	Car loans:	0
Real estate:	0	School loans:	53000
Business:	6250	Credit cards:	0
		Real estate:	0
		Business:	0

Notes:

All figures are in South African Rand: ZAR6=US$1.
I had to do some heavy expense slicing after my cashflow had spiralled out of control. The main reasons are the too fine cutting of the budget (no room for unforeseen events) and two consecutive months of large unforeseen events.
Some of my extra cash flow from previous months went into business and also reducing student loan debt.
I am currently in the process of acquiring a property, so my situation might change significantly in the next few months.

Regards
Leon van der Walt
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Offer on property accepted

2005-05-18T05:40:00.000-07:00

On Monday of this week, I signed offers on two properties. One has been accepted already and I will now go find the financing for it. The second one, I am yet to hear whether the offer has been accepted or not.

In other news, my website has so far made around $39 but since I haven't received any cash, I won't count it as an asset yet. I also spent some money on a further SBI package when they had a 2-for-1 deal at the end of April. I have registered and started on the second one and once that has started rolling, I will also start on the third one.

Regards
Leon van der Walt
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Amway - The Way To Go?

2005-04-15T05:08:00.000-07:00

Last night I had a presentation from a member of the Network Twenty-One Company, on of the distribution networks of Amway (a leg of one of their 'diamonds' distributor). It sounds very rewarding, but before I jump into it I had to do some research. On the first page of Yahoo results I got to this page of a court case against Amway and one of their other legs. Apparently, a distributor was unhappy because of some of the structures and procedures that were in place (or supposed to be in place but not enforced). Turns out that this leg was mainly making their money from selling motivational tapes and books and signing up new 'distributors' who are 'encouraged' to purchase the whole caboodle.

So you'd better read the fine-print in some of these contracts. And remember a Code of Anything is not a law, but an attempt at peer pressure (who are stronger in the organization, you or all the other peers).

Yes, you can make your money if you put in the effort. Just know before you sign up whether you are willing to live with that or not.

Regards
Leon

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The Scroll Marked II

2005-04-06T04:49:00.000-07:00

The Scroll Marked II: I will greet this day with love in my heart!

What am I talking about? I have purchased Og Mandino's The Greatest Secret in the World and am working through it. It is a book, but more, it is a 'work'-book. You have to commit to do daily reading of the scrolls (as found in The Greatest Salesman in the World). I've started reading about 2 weeks ago and am 'stuck' on the second scroll. Actually, I'm not stuck, its part of the process that Og Mandino request from you: That you commit just 10 minutes a day (for 45 weeks) and read through the scroll for the month.

Yes, don't stare yourself blind against the 45 weeks. Rather just go with the 10 minutes a day - its much easier ;)

It is sort of gentle self-brainwashing - more like programming your subconscious mind to behave in a certain way.

Anyways, I'm working through it (persisted now for almost 1.5 weeks :) ) and will give you more feedback on how I greet each day with love in my heart (after all, it is the greatest secret of success in all ventures !! :)

Regards
Leon
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Two South African entrants in worlds richest list

2005-03-14T23:46:00.000-08:00

Forbes has released their 2005 list of the richest people in the world. Once again, South Africa has no new entrants in the list, but our current entrants have moved up, mainly due to the weakening of the dollar.

Our top entrant is Nicky Oppenheimer and Family with a wealth of $6 billion. Their main wealth stems from Anglo-American holdings (Anglo is the biggest stock on the Johannesburg Stock Exchange and has approximately 15% of the total market capitalization of the exchange). They rank at number 72 on the list.

The other entrant is Johan Rupert and Family with a wealth of around $2.3 billion. This comes from the listed company Rembrandt (swiss exchange) and they rank at 272.

Though Donald Gordon now resides in London, he retains his South African citizenship, so he can count as well. With his Liberty holdings, with a wealth of $1.6 billion, ranks at number 413 on the list.

So we do after all have some wealthy citizens down in South Africa.

You can find the list of richest people at Forbes.com.

Personal finance situation - 4 March 2005

2005-03-03T23:16:00.000-08:00

I've updated my financial records and it looks as follows:

Income:
Salary:	12900
Real estate:	0
Business income:	0
Expenses:
Taxes:	2700
Mortgage/Rent:	1400
Car loan payment:	0
School loan payment:	2230
Credit card payment:	0
Child expenses:	0
Other expenses:	3255

Surplus cash flow: 3315

Balance sheet:

Assets:		Liabilities:
Savings/Cash:	100	Mortgage:	0
Stocks/shares:	0	Car loans:	0
Real estate:	0	School loans:	64000
Business:	4000	Credit cards:	0
		Real estate:	0
		Business:	0

Notes:

All figures are South African Rand (ZAR): $1 = +-ZAR6
My cash surplus has increased slightly because I have finished paying off my budget facility on my credit card.
The extra cash flow now goes to towards decreasing the student loan with the higher interest rate and my surplus is distributed as follows: ZAR 1163 additional student loan payment; ZAR 2000 vending business; ZAR 152 small cash cushion.
The 'other expenses' item changes from month to month but I keep it the same for simplicity sake.
I have started making some 'credits' from my online presence but I will only start counting it when I have actual money in MY bank from it.

Regards
Leon van der Walt
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